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by AltaRed
18 Mar 2024 22:05
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: BMO Investorline
Replies: 1268
Views: 196516

Re: BMO Investorline

As I previously mentioned, mine was there circa March 1st. Whether yours ever shows there really doesn't matter as you have your paper copy and know the data. FWIW, I have rarely gone back to check on MyAccount in early April once I have all the tax slips in PDF or paper form in hand.
by AltaRed
18 Mar 2024 17:38
Forum: Taxing Situations
Topic: Foreign Tax Credit and Deduction under subsection 20(12)
Replies: 13
Views: 411

Re: Foreign Tax Credit and Deduction under subsection 20(12)

formerpatriot wrote: 18 Mar 2024 15:47 My wife thinks I'm wasting my time. She may have a point. 8)
Trust and listen to your wife. :D
by AltaRed
18 Mar 2024 12:23
Forum: Taxing Situations
Topic: New T3 requirements for joint accounts [that might be bare trusts]
Replies: 175
Views: 35761

Re: New T3 requirements for joint accounts [that might be bare trusts]

Another take on the filing of bare trust returns from Jason Heath who often writes public service articles. This one seems to try to simplify it for the layman but may be missing critical analysis.
by AltaRed
18 Mar 2024 10:56
Forum: Taxing Situations
Topic: Final Tax Return / T3 adjusted cost base help
Replies: 9
Views: 305

Re: Final Tax Return / T3 adjusted cost base help

Given we are into some anecdotes, my father had many boxes of receipts going back to about 1930? when we went through them when he passed in 1993. No mouse nests though. Two interesting receipts: one for $25 to purchase a quarter section of land in 1932 under the Homestead Act, and another circa 1940 for a 1936 Terraplane which was a pretty fancy car for a farmer.....but then I remembered he was in his 20s then and was, I imagine, a a reasonably well paid boiler man on an oil rig during the war (supporting the war effort). Alas, his financial record keeping of his investments was poor.
by AltaRed
18 Mar 2024 10:36
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: T+1 Settlement is Coming! On May 28, 2024
Replies: 37
Views: 1593

Re: T+1 Settlement is Coming! On May 28, 2024

I have not seen anything on that but have not pursed it. It could be a mess. I do not have any mutual funds (except ISAs which use FundSERV), and like Insomniac, the T+1 settlement change has little impact on me since I only do a few trades each year (which are known well in advance). I do like the idea of next day settlement.... and might even like same day settlement if a way was found to do it.
by AltaRed
18 Mar 2024 00:12
Forum: Financial Planning and Building Portfolios
Topic: Advice please for current retirement portfolio
Replies: 17
Views: 613

Re: Advice please for current retirement portfolio

FWIW, a withdrawal methodology like VPW, even if you only use the Table for your withdrawal factors, will tell you that your assets, along with your combined annuity income once CPP and OAS begin, will meet your spending needs. My two main points were focused on: 1) with annuity income in 3 years meeting over 50% of your spending needs, you could be a bit more aggressive beyond just VBAL in your investable assets. Annuity income is even better than fixed income, so by having so much in GICs and HISA/cash, you are way beyond a balanced 60/40 portfolio and can take on, if you can be comfortable with it, some additional equity risk 2) and if you can take on more equity risk, then eligible dividend income is a tax efficient way to do it to miti...
by AltaRed
17 Mar 2024 18:56
Forum: Financial Planning and Building Portfolios
Topic: Your favorite asset class
Replies: 23
Views: 2045

Re: Your favorite asset class

Robgizz has been on this songsheet for some time, and no statistics to the contrary will make a difference.

I note this thread is 19 years old :P

Added later: I agree the reference point is global equities but that is what most of us do anyway with index investing, with some of us having more home bias (Canada) than others. The MSCI World Index has done just fine for anyone having invested in XWD (Canadian domiciled) or VT (US domiciled) or to separate Canada with active investing (or index) and rest-of-world with VXC or XAW. The point remains that no one can identify an active fund manager in advance that will beat the global index on a regular basis.
by AltaRed
17 Mar 2024 16:27
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: T+1 Settlement is Coming! On May 28, 2024
Replies: 37
Views: 1593

Re: T+1 Settlement is Coming! On May 28, 2024

I suppose it is individual specific, such as in accumulation mode, but all my investment income is spent or gifted on an ongoing basis. I transfer all CAD investment income to chequing about once per month.

Clarification: Non-registered accounts. RRIF a bit different with annual withdrawal.
by AltaRed
17 Mar 2024 15:41
Forum: Taxing Situations
Topic: Foreign Tax Credit and Deduction under subsection 20(12)
Replies: 13
Views: 411

Re: Foreign Tax Credit and Deduction under subsection 20(12)

I suppose there could be a bug in the software but it has to pass accreditation of some sort with CRA, i.e. get the right answers for a number of template scenarios, albeit not likely every scenario. I recall Norbert flagging an issue some years ago related to foreign income/FTC (I think). My memory is only really good for today, 80% good to the beginning of the month and after that, all bets are off. Don't take my word for it. What I would likely do first in the forensics of this process (because I am lazy) is to input the data into another program, e.g. StudioTax, which does not charge to prepare a tax file. It only charges if one wishes to print a tax return, e.g. PDF or to Netfile. IF I got the same answer from StudioTax, I wouldn't pur...
by AltaRed
17 Mar 2024 15:24
Forum: Financial News, Policy and Economics
Topic: Inflation
Replies: 988
Views: 153484

Re: Inflation

BoC certainly could continue QT at the current pace if they wanted too, at the risk of course of dropping longer duration bond prices even more (higher yield) even if the government has to pay higher rates for their fiscal irresponsibility. It is another way of BoC poking the government about their behaviour, i.e. contributing to inflation.

However, the BoC has very recently said they will feather their approach going forward, i.e. rather than just letting their bond inventory expire without replacing any of it, they have said they will replace at least some of it....signalling an easing of QT. How much we will have to wait and see and when they will go fully neutral, neither adding nor decreasing, is unknown.
by AltaRed
17 Mar 2024 13:44
Forum: Under the Mattress: Protecting Your Money
Topic: Best Credit Card (2021 - 2025)
Replies: 499
Views: 31556

Re: Best Credit Card (2021 - 2025)

It depends on which benefits are most important. The recent discussion has been on forex and it does not take a lot of spend with a 2.5% forex fee to save the annual fee. The issue for me is the forex benefit might apply only every 2-3 years.

I would never rely on a CC for travel insurance and especially health insurance. The terms and conditions and limits would be far too minimal to cover major events. I can self-insure for most lower cost items. It is the big items one needs coverage for. That said, it came in handy for an extended family member in Mexico earlier this year when a 75? year old fell and separated her shoulder within 24 hours of arrival. It occurred within the time limitation allowed by the card.
by AltaRed
17 Mar 2024 13:34
Forum: Financial News, Policy and Economics
Topic: Inflation
Replies: 988
Views: 153484

Re: Inflation

I doubt either BoC or the Fed will QT all the way back to where they were previously (various papers talk about why) but presumably another 6-12 months of it. They can still do that (QT) while starting to drop short term rates to help flatten the yield curve.
by AltaRed
17 Mar 2024 12:44
Forum: Under the Mattress: Protecting Your Money
Topic: Best Credit Card (2021 - 2025)
Replies: 499
Views: 31556

Re: Best Credit Card (2021 - 2025)

As already pointed out, there is the Scotiabank Passport Visa Infinite card as described here and here but it is not free. Whether the annual fee is worthwhile to you or not likely depends on how much travel one does and how much foreign currency spend is at stake. I know a number of folk that use this card, with and without other Scotia accounts like banking and/or investment accounts.
by AltaRed
17 Mar 2024 12:10
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: T+1 Settlement is Coming! On May 28, 2024
Replies: 37
Views: 1593

Re: T+1 Settlement is Coming! On May 28, 2024

ISAs, like MMFs, use the FundSERV system (for all mutual funds) to process orders and cut off times have to be in advance of market close, to avoid gaming the buy and sell of mutual funds. It has nothing to do with discount brokerage ulterior motives. Added: Correction - Some discount brokerages may have a different cut off time, either earlier or later than 3pm for mutual fund orders so one needs to know in advance. Scotia iTrade lists 3:30pm. The new T+1 settlement can affect those who do not wish to sell ISA or MMF units to fund an equity purchase until the equity order has been filled but surely this is more a first world inconvenience than a real life hardship. Simply change one's habits to either ensuring the cash will be available wh...
by AltaRed
16 Mar 2024 19:24
Forum: Financial Planning and Building Portfolios
Topic: Advice please for current retirement portfolio
Replies: 17
Views: 613

Re: Advice please for current retirement portfolio

I thought I responded to an earlier query of yours on this here. The issue to me would be paying above NAV. Maybe not so bad for a long term hold but not what I would do for a <1 year hold.
by AltaRed
16 Mar 2024 17:06
Forum: Financial Planning and Building Portfolios
Topic: Advice please for current retirement portfolio
Replies: 17
Views: 613

Re: Advice please for current retirement portfolio

Nothing wrong with simple. There could be millions of investors who blow their brains out trying to be cute. The key is to know what you are buying and why.
by AltaRed
16 Mar 2024 16:02
Forum: Financial Planning and Building Portfolios
Topic: Advice please for current retirement portfolio
Replies: 17
Views: 613

Re: Advice please for current retirement portfolio

ETFs pay distributions, not dividends. Distributions can consist of various types of income such as Other Income (fully taxed like bond interest and dividends from ex-Canada holdings), eligible dividends from Canadian stock holdings, capital gains and return of capital. VEQT is only 30% Canadian equity so only a portion of the distributions will be eligible dividends. Near the bottom of this link under Annual Distributions, you will see, for 2023, only $0.30472 of the total $0.745765 is eligible dividend.

OTOH, for VDY near the bottom of this link for 2023, $1.977849 of the total $2.116449 is eligible dividend

These will vary year to year depending on the underlying holdings, but far more of VDY is eligible dividend than that of VEQT.
by AltaRed
16 Mar 2024 13:18
Forum: Financial Planning and Building Portfolios
Topic: Advice please for current retirement portfolio
Replies: 17
Views: 613

Re: Advice please for current retirement portfolio

This source is likely one of the better ones to compare dividend ETFs and make a personal decision. Another source I know very little about is this one

I have found that different people have different ones for their own particular reasons so there is likely no right answer, but one caveat to me is that the highest yielding one is not necessary the best one. Yield usually comes at a price. Also, from my perspective, I dislike high(er) MER like XDV and dislike high(est) number of holdings. From the list, XDIV and VDY would likely be my personal picks.

Disclosure: I help my ex with her portfolio and she has both XDIV and XIU (legacy) for her Canadian equity. She is the same age demographic as me (75).
by AltaRed
16 Mar 2024 13:08
Forum: Under the Mattress: Protecting Your Money
Topic: Best Credit Card (2021 - 2025)
Replies: 499
Views: 31556

Re: Best Credit Card (2021 - 2025)

I do not know your approximate age but I can identify with that. I did all sorts of things for similar reasons in my pre-70s youth :D .

I am no longer interested in any of that given my 'best before' date is rapidly approaching. I value my time more and more each year and I take (mostly) the easiest and least stressful way out. That means business class flights, good hotels and good restaurants....and paying for a wider range of services around home.
by AltaRed
16 Mar 2024 12:48
Forum: Under the Mattress: Protecting Your Money
Topic: Best Credit Card (2021 - 2025)
Replies: 499
Views: 31556

Re: Best Credit Card (2021 - 2025)

I simply do not do enough ex-Canada traveling to warrant holding a 0% FX card and when I do, it is likely a 50% probability that it will be US travel for which I use a USD credit card funded by USD cash from the USD side of my brokerage account.

Even if one spends $20k equivalent in Euros or other currencies on an annual basis, a 2.5% forex rate is only $500 in fees left on the table. Does it really warrant jumping through hoops for that kind of money?
by AltaRed
16 Mar 2024 12:41
Forum: Financial Planning and Building Portfolios
Topic: Advice please for current retirement portfolio
Replies: 17
Views: 613

Re: Advice please for current retirement portfolio

Welcome to the forum! I would say you are a bit too conservative in your asset allocation BUT I understand why that might be at the current time. If I am reading your post correctly, the fact you say you have your TFSA maxed out at $41k tells me you were out of country for awhile. Also, because you currently only have $8500/yr in annuity income, you felt a need for more conservatism. That will change when you receive OAS/QPP and total annuity income will cover about 60-70% of your spending needs. Given you have VBAL everywhere, and given your annuity income will cover 60-70% of your spending needs in 3 years, I would certainly be more aggressive with the capital coming available from maturing GICs, and especially so with another $98k in liq...
by AltaRed
16 Mar 2024 11:47
Forum: Financial News, Policy and Economics
Topic: Boeing
Replies: 6
Views: 314

Re: Boeing

Westjet is in a similar situation to Southwest in that it has committed itself to a Boeing fleet. Air Canada, much as I dislike them, at least has a mixed fleet and probably should lean more to Airbus. Hindsight is 20-20 as we know now, but Boeing made a huge mistake jerry-rigging the ancient 737 into the MAX series. The bean counters running Boeing as of the DC merger were unwilling to start with a fresh design. I don't think there will be a totally viable fix at Boeing. It is a sacred cow for US politicians and the military establishment so Boeing is not afraid to flex its muscles to keep the FAA at bay. That might only change if countries worldwide start to shun Boeing in a big way relying more on Airbus, and eventually the Chinese knock...
by AltaRed
16 Mar 2024 10:53
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Market 2024
Replies: 21
Views: 2143

Re: Housing Market 2024

I hope if the property prices in Canada fall, it will be only 10% - 15% nation wide. I am pretty certain Canada has had a number of housing drops in the 30+% range, but perhaps more regional in nature. Calgary fell 31% and Edmonton 29% between 1981 and 1985. Victoria fell 42% in the same time period and did not recover for 12 years. GTA and GVR had housing busts that started circa 1989 and took many years to recover. See Figure 2 in this socialist piece for a perspective in key cities. It is a reason why virtually no lender should underwrite a mortgage with less than a 20% down payment... unless it is insured, and also a reason to wonder why anyone would actually buy a house with less than 20% down. The no-sleep-at-night factor must be hor...
by AltaRed
16 Mar 2024 10:33
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: BMO Investorline
Replies: 1268
Views: 196516

Re: BMO Investorline

I have done a few of these with a few different brokerages, including BMOIL, and it has always been shown as a negative administrative fee or expense in both registered and non-registered accounts. It is a non-issue from a tax perspective from anything I have read anywhere at any time.
by AltaRed
15 Mar 2024 16:06
Forum: Taxing Situations
Topic: Final Tax Return / T3 adjusted cost base help
Replies: 9
Views: 305

Re: Final Tax Return / T3 adjusted cost base help

We all have black boxes like this with our silent generation parents, even some of the boomer generation have minimal, to no, records.

CRA is quite aware of these conundrums and given they likely see somewhere like 100k to 200k (or more) Final T1 returns every year (Canadian death rate exceeds 300k per year), they will be fine with a documented best guess, and especially so when there will be a net cap loss anyway.

On the surface, I likely would look up on the Bank of Canada site for a forex rate 20 years ago, and then again date of the last transaction 7 years ago, average them and call it a day.for ACB.